Chief Secretary Donald Tsang Yam-kuen yesterday sought to calm fears that Hong Kong would lose out following China's accession.
He said Hong Kong would certainly gain from a slice of the "bigger pie" of the mainland and global economies.
"Hong Kong is the largest investor in the mainland. We have a high market share," Mr Tsang said. "If overall trade goes up, Hong Kong businesses will benefit a lot correspondingly. This will bring new vigour to the Hong Kong economy."
Mr Tsang said the Government would ensure all policies coped with the economic development. For instance, he said land policy would have to cater for the development of the logistics industry and education policies such as training in the English language had to meet the needs of a knowledge-based economy.
Executive Council convenor Leung Chun-ying said it was time for people to act after years of analysis and discussion about how Hong Kong could benefit from a post-WTO China.
He said profesionals should actively explore new opportunities.
His Exco colleague, leading businessman Raymond Chien Kuo-fung was, confident that Hong Kong could still act as a "middle man" in the Chinese economy.